TY - JOUR
T1 - Trade intensity and business cycle synchronization: Are developing countries any different?
AU - Calderón, César
AU - Chong, Alberto
AU - Stein, Ernesto
PY - 2007/3/8
Y1 - 2007/3/8
N2 - Trade intensity increases the business cycle co-movement among industrial countries. Using annual information for 147 countries for the period 1960-99 we find that the impact of trade intensity on business cycle correlation among developing countries is positive and significant, but substantially smaller than that among industrial countries. Our findings suggest that differences in the responsiveness of cycle synchronization to trade integration between industrial and developing countries are explained by differences in the patterns of specialization and bilateral trade.
AB - Trade intensity increases the business cycle co-movement among industrial countries. Using annual information for 147 countries for the period 1960-99 we find that the impact of trade intensity on business cycle correlation among developing countries is positive and significant, but substantially smaller than that among industrial countries. Our findings suggest that differences in the responsiveness of cycle synchronization to trade integration between industrial and developing countries are explained by differences in the patterns of specialization and bilateral trade.
KW - Bilateral trade
KW - Cycle synchronization
KW - Integration
KW - Intra-industry trade
KW - LDCs
KW - Bilateral trade
KW - Cycle synchronization
KW - Integration
KW - Intra-industry trade
KW - LDCs
UR - https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=33847107249&origin=inward
UR - https://www.scopus.com/inward/citedby.uri?partnerID=HzOxMe3b&scp=33847107249&origin=inward
U2 - 10.1016/j.jinteco.2006.06.001
DO - 10.1016/j.jinteco.2006.06.001
M3 - Article in a journal
SN - 0022-1996
VL - 71
SP - 2
EP - 21
JO - Journal of International Economics
JF - Journal of International Economics
IS - 1
ER -